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Item No. 3 <br />l <br />TO: Mayor & City Council <br />Grayson Path, City Manager <br />FROM: Gene Anderson, Finance Director <br />SUBJECT: RATIFYING THE PROPERTY TAX INCREASE IN THE 2020-21 BUDGET <br />DATE: September 15, 2020 <br />BACKGROUND: Under Local Government Code Section 102.007 (c), the City Council is <br />required to take a separate vote to ratify any property tax increase reflected in the 2020-21 <br />Budget. This vote is in addition to the vote required to adopt the budget and the vote to adopt the <br />tax rate. <br />STATUS OF ISSUE: City staff has placed this matter on agenda, as it must be approved prior to <br />voting on the tax rate. <br />BUDGET: N/A <br />RECOMMENDATION: Motion to ratify the property tax increase reflected in the 2020-21 <br />Budget. <br />